One of the five canola crush projects planned for Saskatchewan is being sidelined.
Ceres Global Ag Corp recently announced it is suspending plans for a $350 million canola crush facilty at Northgate, due to inflationary pressures, higher costs, and shifting macroeconomic conditions.
A Government of Saskatchewan statement states it is disappointed in the news, but remains confident in our investment climate and economic future.
"Saskatchewan has seen strong economic growth and job creation recently, is leading the nation in several economic indicators, and has welcomed over $14 billion in investments announced across a range of sectors. Saskatchewan remains one of the top locations in the world to do business and we remain focused on ensuring we have a strong, competitive business environment to continue this economic momentum. This includes recent enhancements to the Saskatchewan Value-Added Agriculture Incentive to remain a leader in agriculture production and processing as we work to achieve our Growth Plan goals."